New Relic Climbs into Top Four of Gartner’s Application Performance Monitoring Market Share Analysis
Software analytics leader New Relic, Inc. (NYSE: NEWR) announced today that the company is now the fourth largest application performance monitoring (APM) vendor by revenue according to Gartner’s ”Market Share Analysis: Performance Monitoring, Worldwide, 2015” report by Federico De Silva. New Relic experienced one of the most significant advances in the rankings, moving up four spots from the prior year, powered by the highest growth rate among the top four vendors, at 68 percent. In the report, New Relic is identified as a key market performer, based on market share and share growth in their respective segments in 2015.
The company’s ranking from Gartner coincides with another report by the analyst firm, "Market Insight: Cloud Shift — The Transition of IT Spending from Traditional Systems to Cloud," which reports that, “Over the next five years (from 2016 through 2020), over $1 trillion in compounded IT spending will be directly or indirectly impacted by cloud shift, making cloud computing one of the most disruptive forces of IT spending since the early days of the digital age.” “Cloud Shift” is characterized by Gartner as the movement of IT spending from traditional (noncloud) markets to new, cloud-based alternatives. Gartner has determined the cloud shift rate will be 37 percent of IT spending moving from traditional noncloud application software vendors to SaaS providers, through 2020.
"New Relic's unique 100% commitment to the pure-SaaS model has delivered unprecedented success to our customers as they advance their cloud and digital business initiatives," said Lew Cirne, founder and CEO, New Relic. "New Relic is the only true cross-platform software analytics provider that allows companies to effectively leverage the benefits of the cloud, including speed, scale, and innovation."
Sources Market Share Analysis: Performance Monitoring, Worldwide 2015, Doc # G00310451, July 2016
Market Insight: Cloud Shift — The Transition of IT Spending from Traditional Systems to Cloud, Doc # G00301664, July 2016
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